The founder and executive chairman of a beverage company has been charged with defrauding investors, according to an announcement by U.S. Attorney Philip R. Sellinger. Todd O’Gara, 44, from Austin, Texas, appeared in court facing one count of wire fraud.
O'Gara is accused of raising at least $3.4 million from individual investors for his company, Wanu Water, Inc., through fraudulent means. Court documents and statements reveal that he allegedly lied about purchase orders and investments from private equity firms to solicit and maintain these investments. As part of the scheme, O'Gara reportedly sent fake documents to investors.
The charge carries a potential penalty of up to 20 years in prison and a fine that could reach $250,000 or twice the gross gain or loss involved.
U.S. Attorney Sellinger stated that the investigation is ongoing and urged anyone with information or who believes they may be a victim to contact the FBI via email.
Special agents from the FBI's Newark Field Division are credited with conducting the investigation under Acting Special Agent in Charge Nelson I. Delgado's direction. The case is being prosecuted by Assistant U.S. Attorneys Aaron L. Webman and Carolyn Silane from the Economic Crimes Unit in Newark.